named programs · 3 · from sources
What they call their work
0% Interest Loan
Special loan offer for new customers with no interest for up to 180 days
Golden Loan
Loan program offering higher loan amounts with lower fees specifically for gold items
Premier Loan
Loan option providing extended repayment terms with no payments required for up to 180 days
activities · 2 groups
What they do
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Credit Union Financial Services 2 activities
- Offering interest-free loans to new customersOffers new customers 0% interest loans for up to 180 days on valuable items such as jewelry, gold, and luxury watches, providing accessible financial alternatives to high-cost lenders. This program is available to borrowers nationwide through both physical offices and online services.
- Providing low-interest short-term collateral loansProvides short-term collateral loans using jewelry, gold, silver, diamonds, and luxury watches as collateral at interest rates lower than traditional pawnshops, serving individuals and small businesses across all 50 U.S. states and territories. Offers flexible repayment terms up to four months with daily interest calculation and options to redeem or renew loans.
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Facility-Based Service Delivery 1 activity
- Operating physical and online loan service locationsOperates five physical loan offices in New York City—located in Manhattan, the Bronx, Brooklyn, and Queens—with additional online services that enable customers across all 50 states and U.S. territories to access collateral loans. These locations serve as access points for in-person evaluations, loan disbursements, and item redemptions.
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financials · form 990 · fy2024
revenue
Total revenue$5.09M
Contributions & grants$00%
Program service revenue$3.42M67%
Investment income$1340%
Other revenue$1.67M
expenses
Total expenses$4.96M
Program expenses65%
Admin / overhead35%
Fundraising0%
Salaries & benefits$2.95M
Grants paid out$0
Largest expense lineCompensation
balance sheet
Total assets$16.00M
Cash$931K
Investments$0
Liabilities$2.58M
Net assets$13.42M
Liquid reserves2.3 mo
4 years on record · 2020–2024 · YoY revenue +16.2%
leadership · form 990 part vii · fy2024
Who runs it
paid leadership · 6
| Name | Title | Hours/wk | Compensation |
|---|---|---|---|
| JOHN T HIGNEY | PRESIDENT & CEO | 40 | $278K |
| ANTHONY LORE | SECRETARY | 40 | $161K |
| KEVIN KING | CFO/TREASURER | 40 | $153K |
| MARCOS A RAMOS | AUCTION SALE DIRECTOR | 40 | $153K |
| RENAN SUCENA | ASSISTANT VP (AS OF 04/24) | 40 | $102K |
| THEODORE C FISHER | ASSISTANT VP (THRU 03/24) | 40 | $34K |
board members · 9
- AMES BROWN — TRUSTEE
- AUSTIN V SHAPARD — TRUSTEE
- EDWARD D PARDOE III — TRUSTEE
- MARK RAMBLER — TRUSTEE
- MERLINA MANOCARAN — TRUSTEE
- RADFORD W KLOTZ — TRUSTEE
- REBECCA LINDSEY — TRUSTEE
- RICHARD A DRUCKER — CHAIRMAN
- SCOTT TUCKER — TRUSTEE
relationships · 2
Who they work with
- Provident Loan Society of New York Network — Referred to as the operating name of the organization providing collateral loans.
- Provident Loan Society of New York Network — Self-identified as America's not-for-profit collateral lender since 1894
strategies · 2
How they approach the work
Named approaches extracted from this org’s sources. Where others share an approach, follow it to see the full set of orgs running it.
- Collateral-Based Lending with Improved Termsmethodology: pawn-lending-with-improved-termsBy offering pawn-based loans with lower interest rates, interest-free periods, and daily interest calculation, the organization reduces borrower costs and increases financial accessibility, because traditional pawn lending often imposes high, inflexible interest burdens that exacerbate financial hardship.
- Credit-Check-Free Access to Cash via Collateralmethodology: credit-check-free-collateral-lendingBy using jewelry-secured loans instead of credit checks, the organization enables fast, equitable access to emergency funds for individuals with limited or poor credit history, because exclusionary credit assessments often prevent low-income individuals from accessing responsible lending options.